Month: May 2021

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Hexo Corp. (TSX:HEXO) is buying privately held cannabis producer Redecan Pharm in a deal worth $925 million.

Hexo will pay $400 million in cash and $525 million in shares to acquire Redecan. After the deal closes, Redecan shareholders will own 31% of the combined entity and will be permitted to nominate two directors to Hexo’s board of directors.

The transaction is subject to regulatory approvals and a vote by Hexo shareholders to approve the share issuance. Hexo said it expects the transaction to close in the third quarter of this year.

The deal marks the latest salvo among producers to win market share in Canada’s hotly-contested legal cannabis industry.

Canadian cannabis companies have been in a period of consolidation over the past six months as an oversupplied market coupled with a highly-regulated domestic industry that is struggling to become profitable has forced some producers to seek growth through mergers and … Read more

Recruiters must clamp down on tax abuse and exploitation of workers via umbrella companies, the industry’s lobby group has told its members, amid growing pressure for regulation of temporary labour.

So-called umbrella companies, used by recruiters and employers to pay temporary workers, have attracted growing scrutiny from MPs and unions following reports of abuses across the industry and investigations by the Guardian and the BBC that raised concerns about agencies supplying the NHS test-and-trace scheme.

The Recruitment and Employment Confederation (REC) said on Thursday that HM Revenue and Customs should set up a new hotline to report wrongdoing by umbrella companies, and wrote to its members urging them to check that the companies they use are compliant with the law.

Umbrella companies are used to pay workers at arm’s length from the recruiters or companies that hire them. They are the named employer on payslips, meaning hirers do not run … Read more

A selfless mindset is the best way to honor others’ service and sacrifice.

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The S&P 500 climbed slightly on Friday to close its fourth straight positive month amid growing optimism over the U.S. economic recovery.

The Dow Jones Industrials amassed 64.81 points to end the day and the week to 34,529.45.

The S&P 500 added 3.23 points to 4,204.11.

The NASDAQ stayed in the green 12.46 points to 13,748.74.

The blue-chip Dow took on 0.9% and the S&P 500 advanced 1.2% this week, both breaking a two-week losing streak. The NASDAQ rose 2.1% to post its best weekly performance since April 9.

For the month of May, the 30-stock Dow gained 1.9% and the S&P 500 jumped 0.6%, posting their fourth up months in a row. The tech-heavy NASDAQ, however, suffered a 1.5% loss this month for its first negative month in seven.

Markets in the U.S. will be closed Monday for Memorial Day

Salesforce shares popped more than 5% Friday after the … Read more